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by TangoTrotFox 2874 days ago
Without hitting on whether or not this is the right company to do this, I don't think the idea is itself at all unreasonable. By the time you're concerned about 8% equity, you've basically already 'made it' in the sense that you have likely have enough capital to start to more independently pursue your other ideas, or alternatively seek more favorable funding with some history for more traditional venture capital types.

This project seems to be clearly aiming people who have ambition and competence, but minimal to no current resources or connections; the goal being to get them to where that is no longer the case -- helping them to reach their potential. It's hard to call anything at all exploitative if it succeeds in getting people from that critical nothing to something point, regardless of how it does it.
3 comments
telospolis 2874 days ago
"by the time you're concerned about 8% equity, you've basically already 'made it' in the sense that you have likely have enough capital to start "

Nope! haven't made it.

"This project seems to be clearly aiming people who have ambition and competence, but minimal to no current resources or connections; the goal being to get them to where that is no longer the case -- helping them to reach their potential"

hi, that's me!

"It's hard to call anything at all exploitative if it succeeds in getting people from that critical nothing to something point"

i see the value of taking people from nothing to critical mass i.e - YC. in case of pioneers - i might be nothing now but highly unlikely - i will be nothing for the next 8 years!

imho, this 5 + 3% won't select for the best of people! I would totally judge a person who lock herself in this 8 year contract! that's just me

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dwiel 2874 days ago
I've always thought this argument was really hypocritical. The argument is you shouldn't be concerned about a few percent of equity since once it matters you will be rich and not care. Except the person making that argument is certainly rich and seems to care a lot about these few percentage points. Why are we expected to not care when they clearly do?

Similarly, those few % of equity means less equity later for future rounds of funding or for paying out to employees.

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jgh 2874 days ago
8 years is a long time though, and could potentially be more than one company.
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eanzenberg 2874 days ago
Indentured servitude.
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neolefty 2874 days ago
At 3%? Indentured servitude was 100%.
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